Risk Assessment Agency Fitch Ratings published the national long-term rating of the National Development Financing in AAA with stable outlook. Likewise, the short-term rating remained in F1 + (col). In return, Fitch also confirmed long-term international rating in BBB with stable outlook and an international short term rating in F2.
The rating agency assessed the strategic importance of the entities for the implementation of infrastructure projects in the country, in particular financing the construction of 4G tracks and other projects.
Read in sport: OFFICIAL: Finals between Boka and the river are suspended
"Fitch's decision to keep FDN rating in the AAA, its positive assessment of financial results and the integrity of the entities, as well as the recognition of the work we have undertaken for the development and financing of infrastructure projects." He is pleased and excited that he continues to work in a way what we do. This confirms the correctness of the business model, professionalism of the team and robust corporate governance that guarantee a technical and serious decision-making process, "said Clemente del Valle, president of FDN.
For Fitch, FDN is one of the only banks that focuses on financing infrastructure projects and, therefore, his role in this sector is expanding. Therefore, loans increase as part of the balance sheet, a trend that Fitch expects to remain in the rating horizon.
The rating agency noted that since June 2018 there are no unpaid loans, and the concentration of debtors remains large, in accordance with its business model.
He also pointed out that the operating profit on the risk weighted assets improved to 2.18% and in line with the objectives of financial sustainability of entities.
It also found that liquidity and capitalization of FDN remain robust, as the rapid growth in the markets for financing infrastructure projects recently. From June 2018, investments available for sale, cash and the like cover 118% of assets. FDN risk assessments are in line with the Colombian sovereign.